| Summary of Intangible Assets |
The following table presents intangible assets as of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2025 |
|
|
December 31, 2024 |
|
|
|
Gross
Carrying
Amount |
|
|
Accumulated Amortization |
|
|
Gross
Carrying
Amount |
|
|
Accumulated Amortization |
|
|
|
(in thousands) |
|
Customer relationships |
|
$ |
2,513,564 |
|
|
$ |
(1,334,902 |
) |
|
$ |
2,216,578 |
|
|
$ |
(1,198,125 |
) |
Developed technology |
|
|
95,600 |
|
|
|
(41,196 |
) |
|
|
95,600 |
|
|
|
(35,887 |
) |
Trade names |
|
|
73,500 |
|
|
|
(47,588 |
) |
|
|
64,500 |
|
|
|
(43,483 |
) |
Non-compete agreements |
|
|
13,050 |
|
|
|
(9,617 |
) |
|
|
13,050 |
|
|
|
(8,599 |
) |
Total intangible assets |
|
$ |
2,695,714 |
|
|
$ |
(1,433,303 |
) |
|
$ |
2,389,728 |
|
|
$ |
(1,286,094 |
) |
|
| Estimated Amortization Expense for Intangible Assets |
The following table presents the estimated amortization expense for intangible assets for the years ending December 31:
|
|
|
|
|
|
|
(in thousands) |
|
2025 (from July 1, 2025) |
|
$ |
146,041 |
|
2026 |
|
|
260,842 |
|
2027 |
|
|
201,774 |
|
2028 |
|
|
151,792 |
|
2029 |
|
|
96,507 |
|
Thereafter |
|
|
405,455 |
|
Total future intangible amortization expense |
|
$ |
1,262,411 |
|
|